Retail petrol prices have continued to climb across major urban centres, reflecting the ripple effects of recent ex-depot hikes by private marketers and the latest pricing move from Dangote Refinery.
Findings from a market survey on Saturday revealed widespread pump price increases, with several stations now dispensing petrol at rates ranging between ₦910 and ₦940 per litre. These hikes follow Dangote’s release of a new Pro Forma Invoice (PFI) on Friday, June 20, quoting ₦880/litre—up from previous rates of ₦825.
Increased pressure in the global oil market, fueled by ongoing Middle East tensions, has further complicated the domestic fuel landscape. Although Brent crude slipped slightly to $77.01 per barrel, analysts warn that the broader outlook remains volatile amid fears of supply disruptions. Geopolitical developments, especially after recent U.S. military strikes on Iran’s nuclear sites and subsequent retaliatory actions, have kept energy markets on edge.
Petrol stations reflecting the current hike include:
Blefic Petroleum, Igando – ₦920/litre
Eunice Petroleum, Igando – ₦915/litre
Petrocam, Isheri – ₦940/litre
Hyde Petroleum, Egbeda – ₦925/litre
Total, Ile Epo – ₦910/litre
Northwest, Abule Egba – ₦930/litre
Pinnacle, Cele Ijesha – ₦936/litre
Bovas, Ijesha – ₦910/litre
MRS, Igbein Abeokuta – ₦935/litre
Depot owners had already adjusted prices upward earlier in the week, citing uncertainties created by Dangote’s temporary halt in dispatches and the absence of a PFI. Private Depots such as Wosbab, Emadeb, and Matrix had moved petrol ex-depot prices from between ₦875–₦895 to highs of ₦920–₦925.
As traders brace for more supply-related shocks and local marketers weigh pricing risks, consumers are left to contend with higher costs at the pumps, an outcome shaped by both domestic policy shifts and unpredictable global dynamics.